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The
portfolio for sale includes the Terry's Chocolate Orange and
Terry's All Gold brands, Sky News reported, citing people
familiar with the process. (http://bit.ly/1RiWU5y)
Mondelez has decided that the Terry's brand is not core to its
business, according to the report.
The sale is being handled by Lazard, the investment bank that
led Kraft's takeover of Cadbury in 2010, Sky News said.
Mondelez was not immediately available to comment.
Kraft Foods bought Cadbury for 11.7 billion pounds to create the
world's top confectioner.
Kraft Foods split its snacks and grocery businesses in 2012. The
Terry's brand became a part of the snacks business which was
named as Mondelez International.
(Reporting by Subrat Patnaik in Bengaluru; Editing by Shounak
Dasgupta)
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